TeleFlow Step 0325

From TeleFlow

Financial Calc
Provides mortgage estimates based on income, interest, and mortgage amounts.

Note: It should always be noted to callers and users of the system that the amounts provided are only approximations, and that only a lending institution can provide accurate final numbers. There are many factors that go into determining these amounts, and there are many options where mortgages and payments are concerned.

Properties

Variable to receive result: The variable to receive the monthly payment or mortgage amount.

Determine: The type of mortgage calculation to make, with the following options:

• Monthly payment: The approximate monthly mortgage payment one would have to make based on the "Annual interest rate" and "Mortgage amount" entries.
  
• Mortgage amount: The maximum mortgage amount one could expect to be given by a lending institution based on the total amount of the mortgage to "Annual interest rate" and "Gross income" entries.
  

Annual interest rate: The expected annual interest rate for the mortgage to be acquired.

Mortgage amount: The total amount of the mortgage.

Gross income: A person's gross annual income.

Action Steps

None.